Buffett’s Strategy: Analyzing Fear in Market with Caleres, Inc.
Warren Buffett famously advises that investors should be fearful when others are greedy and greedy when others are fearful. One way to assess market fear is through the Relative Strength Index (RSI), a technical analysis tool that ranks momentum from zero to 100. If a stock’s RSI drops below 30, it is considered oversold.
Caleres, Inc. Enters Oversold Territory
On Thursday, shares of Caleres Inc (Symbol: CAL) fell into oversold territory, achieving an RSI reading of 29.7, with trading prices dipping as low as $28.79 per share. This contrasts sharply with the current RSI of the S&P 500 ETF (SPY), which stands at 62.2. For bullish investors, CAL’s RSI of 29.7 may suggest that recent selling pressures are starting to fade, indicating potential buying opportunities.
Performance Insights
The chart below illustrates CAL’s one-year performance:
Examining CAL’s 52-week performance, the stock has reached a low of $24.71 and a high of $44.51. Currently, the shares are trading at $29.02, signaling a significant price movement within the year.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
